Transactions
in the Philippines residential leasing market picked up significantly during
pre-enrollments of up-coming students in May-June each year as several foreigners,
Filipino foreign dependents as to those well-to-do provincial-based students
find housing for their continued studies in the prime cities particularly within
the university belt areas in Metro Manila, as I noticed on my leasing business
transactions nowadays.
“The location most in demand is in the university belt area particularly within the
vicinity of the University of Santo Tomas, University of the East, Far-Eastern University,
San Sebastian College, San Beda College and Centro Escolar University in Sampaloc,
Manila.
In
Taft Avenue, De La Salle University, Philippine Women’s University, Philippine
Christian University, Saint Benilde College, Saint Scholastica’s College, Saint
Paul College & the University the Philippines comprises the university belt
area.
Whereas
in Katipunan Avenue in Quezon City is where Ateneo De Manila University, Miriam
College and the University of the Philippines continues to be the University
belt’s prime development for many students.
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| CAMELLA Condo Homes, Katipunan Avenue Quezon City |
The average rental rate for a 16.5 sq. mtrs studio pad condo unit at the UniversityTower Manila during the first quarter of 2012 was Php 9, 000.00 to Php 12,
500.00 a month while a 1-bedroom condo unit of 22 sq. mtrs was Php 18, 000.00 a
month. The sought after studio pad condo unit of 24 sq. mtrs – that can be
expanded as 1-bedroom at the Pacific Grand Tower and is strategically located
near to UST’s Hospital building was priced at Php 18, 500.00 monthly.
“The
cheapest condo rental is found at the Espana Tower, near Mabuhay rotunda where a fully-furnished 22 sq. mtrs studio
unit is priced at Php 12, 500.00 to Php 15, 000 per month. España Tower is reviewers’
paradise because of rental affordability as well as being near to most review centers
in Manila.
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| University Belt "best" students' condo for investment & residences |
Rental
rates depend upon the furnishing offered by the lessor, for high-end condo units in
Makati financial district as in the Fort Global city area commands a much
higher price.
“If
demand continues at this level, and, assuming no new residential buildings in
phases are delivered during the school opening on June 2012, rental rates for
the best-configured condo & apartments may witness a slight increase. However,
several condominiums, apartments, and dormitories across all areas of Metro
Manila and all other progressive cities in the Philippines will become more
affordable because of continuous constructions activities of prime-condo
developers in these areas.
Several
condo units at the University belt are now on its finishing stage namely: the University
Tower II in Galicia Street, Pacific Grand Tower II in Dapitan Street and Crown
Tower in P. Campa Street – all mentioned condo towers are located in Sampaloc,
Manila and One Archers place in Taft Avenue, Manila is now ready for occupancy
as well.
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| Fully Furnished Condo @ AURORA HEIGHTS Residences, QC |
Up-coming
and under-construction university belt condo in or around the university belt
areas are as follows: University Tower P. Noval Manila, Camella Condo Homes
Taft Avenue Manila, Camella Condo Homes Katipunan Avenue Quezon City, SM Blue
Residences Katipunan Avenue Quezon City and Aurora Heights Loyola Quezon City
are amongst the few condo buildings that will cater to the housing needs of students.
Apart
from rental homes, the residential condo sales market saw improved levels of
inquiries during the first quarter of this year as investors, eyeing the
Philippines promising medium-to-long term capital appreciation prospects,
sought alternative investment opportunities to cash reserves.
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| SM Blue Residences, Katipunan Avenue Quezon City |
The
majority of inquiries were from Overseas Foreign Workers (OFWs) all over the
world, Filipinos with dual residency status outside the Philippines -
particularly from the US / Canada sector and local investors seeking to
purchase a property from reputed developers in the Philippines.
Inquiries
continued to be for residential purposes ranging from a studio pad and 1-bedroom
condo unit both in rentals and sales. This segment of the market is relatively
undersupplied compared to prime, shell and core offices that are available
today.
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| CLICK Pic for bigger image |
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